Reliance Power posts over three-fold jump in Q4 profit at Rs 215 cr

Its consolidated income rose to Rs 2,696.5 crore in the last quarter of 2016-17 from Rs 2,548.94 crore in the same period of previous fiscal, the company said in a BSE filing.PTI | April 14, 2017, 07:48 IST

New Delhi: Reliance Power today posted over three-fold jump in consolidated net profit to Rs 215.90 crore for the quarter ended on March 31, 2017 compared to that of Rs 61.55 crore in the year-ago period.

Its consolidated income rose to Rs 2,696.5 crore in the last quarter of 2016-17 from Rs 2,548.94 crore in the same period of previous fiscal, the company said in a BSE filing.

The company has adopted Indian Accounting Standards (Ind AS) from April 1, 2016, with a transition date of April 1, 2015, the filing said.

Its power generation was 42,000 million units in 2016-17 with almost flat growth compared to previous financial year.

The consolidated net profit in 2016-17 was Rs 1,104.16 crore, up 23 per cent from Rs 895.45 crore in the previous fiscal. Total income was Rs 10,891.68 crore in 2016-17 against Rs 10,621.52 crore in the previous fiscal.

The company said that its 3,960 MW Sasan UMPP in Madhya Pradesh generated 29,476 million units operating at availability of 86 per cent.

The captive coal mines of Sasan UMPP produced 17 million ton of coal, the highest among private sector players in the country. The total volume including overburden removal handled by coal mine of Sasan UMPP is the highest in the country, it claimed.

It said that the 1,200 MW Rosa Power Plant in Uttar Pradesh generated 7,914 million units operating at availability of 100 per cent. Similarly the 600 MW Butibori Power Plant in Maharashtra generated 3,762 million units operating at availability of 88 per cent.

The 40 MW Dhursar Solar PV plant in Rajasthan generated 70 million units operating at availability of 100 per cent.

The 45 MW wind capacity in Vashpet, Maharashtra generated 77 million units operating at availability of 94 per cent.

The 100 MW Concentrated Solar Power (CSP) project in Dhursar, Rajasthan, achieved peak load of 133 MW during the year.

The company has the portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy, with an operating portfolio of 5,945 megawatts.

In a separate filing, it said that its board today elevated N Venugopala Rao, who was appointed as the Chief Executive Officer in November 2015, to the position of a Whole Time Director for a period of three years with immediate effect.

“To save the environment and to fight climate change, my government has planned a major campaign. By 2022, we want to generate 175 GW of renewable energy. In the last three years, we have already achieved 60 GW or around one-third of this target,” he said.